UAE Start-Up MAde a Finalist at the ‘Billion RUBLE Pitch’ that was held at the to the GLOBAL MANUFACTURING and INDUSTRIALISATION SUMMIT
Start-ups pitched ideas to international investors with the aim of securing up to one billion Rubles in investments
Yekaterinburg, Russia, 9 July 2019 – International investors listened eagerly, with the aim to discover talented industrial technology start-ups to invest in at the ‘Billion Ruble Pitch’ session that took take place on day 1 of the Global Manufacturing and Industrialisation Summit (GMIS) in Yekaterinburg, Russia.
The ‘Billion Ruble Pitch’ session aimed to create a platform for accelerated growth, investment attraction and scaling industrial development projects to to new markets around the world.. The pitch event, was organised by the Digital Economy Development Fund, in partnership with the National Engineering Corporation, and in collaboration with the Global Manufacturing and Industrialisation Summit, a joint initiative by the UAE Ministry of Energy and Industry and the United Nations Industrial Development Organization (UNIDO).
From the one hundred start-up companies that were invited to participate, 15 were shortlisted to pitch on stage. The finalists included eight Russian and seven international start-ups from various countries, such as Holland and South Africa, including one from the United Arab Emirates. The Russian finalists were: Big Three; BMPower; Motivity; Hologroup; Kalancha; Ecolite; Neelar; and Rfsense. The international start-ups involved were: Otago (Cambodia); LiGE (South Africa); The Concept (UAE); Sponsh (The Netherlands); Credence Robotics (India); Hion (Brazil) and Cubi (Brazil).
The selected start-ups showcased a variety of solutions based on advanced technologies, including robotics; advanced smart batteries for vehicles; energy monitoring software; fire safety solutions, and the use of sustainable materials in traditional manufacturing, among others.
The 11 jury members comprised a mix of Russian experts and investors including Arkady Dvorkovich, Chairman of the Skolkovo Foundation, Alexey Malikov, Partner of Investment Fund A&A, as well as International industry experts like Dino Fortunato, Chief Technical Advisor at UNIDO ITPO Italy. Finalists presented their ideas or solutions, while trying to convince investors that their inventions should garner financial support by showing them that their innovations can add value to the market, bring something unique to the table and reduce costs for customers.
Other Russian investors in attendance at the Billion Ruble Pitch included Alexey Troshin, General director of the National Engineering Corporation, Dominic Fash, Head of the “Sofia Antipolis” Fund, and Yury Cherches, Board member of the Roscongress Foundation. Investors from the UAE included Mubadala Capital, Hub71 and Tawazun Economic Council.
During the pitch event, the finalists were given four minutes each for their presentation follow by for jury questions from representatives of state corporations and some of the largest companies in the industrial sector. The jury is also aligned with the departmental project of the Ministry of Industry and Trade of the Russian Federation, “Digital Industry”. Russian investment funds and a delegation of international investors will also participate in the pitch session.
In his closing remarks, Yuriy Cherches, of the International Foundation of Technology and Investment (IFTI) noted how challenging it was for investors: “All these companies are unique.”
At the end of the pitching process, an “acceleration zone” was held where the finalists could discuss their projects with investors in greater detail, with a view to securing investment in their projects. Previous projects have succeeded in attracting investment of up to one billion rubles. The Billion Ruble Pitch heads a three-day programme for start-ups and youth taking place alongside the Global Manufacturing and Industrialisation Summit (GMIS). The programme includes mentor sessions, panel discussions and workshops.
Badr Al-Olama, Head of the Organising Committee for the Global Manufacturing and Industrialisation Summit (GMIS), said: “The Fourth Industrial Revolution (4iR) is a key part of today’s global manufacturing industry, and in order for it to have a robust and prosperous future, we must invest both time and effort in the future generation of leaders and innovators. The 15 industrial innovation start-up companies who pitched at GMIS 2019, are proof of the exciting talent pipeline in the industry that will shape its future in the years to come.”
Namir Hourani, Managing Director of the Global Manufacturing and Industrialisation Summit (GMIS), said: “The amazing thing here is that almost all the ideas or solutions presented today had something to do with sustainability, be it related to energy, safety, or agriculture. There is an increasing demand for social impact projects today. It’s no longer only about scalability and profitability, investors are starting to make sustainability a key criteria when making investment decisions. If you have an idea related to social innovation, or one with sustainability at its core, you’re likely to grab investors attention.”
The Global Manufacturing and Industrialisation Summit (GMIS) is taking place from 9 to 11 July in the Russian city of Yekaterinburg and will address key topics that are emerging as Fourth Industrial Revolution (4IR) technologies continue to drive the transformation of the global manufacturing sector.
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The Global Manufacturing and Industrialisation Summit (GMIS) was established in 2015 to build bridges between manufacturers, governments and NGOs, technologists, and investors in harnessing the Fourth Industrial Revolution’s (4IR) transformation of manufacturing, to enable the regeneration of the global economy. A joint initiative by the United Arab Emirates and the United Nations Industrial Development Organization (UNIDO), GMIS is a platform that presents the manufacturing sector with an opportunity to contribute towards global good, and that is committed to bringing benefit to all. As the world’s first cross-industry initiative, GMIS offers a platform for leaders to engage on the issue of the future of manufacturing, highlighting the need for greater investment in capabilities to foster innovation and drive skills development on a global scale. Uniting key stakeholders – including world leaders, industry CEOs, and specialist researchers and academics – GMIS has placed manufacturing at the heart of economic transformation and government policy-making, promoting it as a tool for global cooperation and collaboration.
The first edition of the Global Manufacturing and Industrialisation Summit was held under the patronage of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, at the Paris Sorbonne University Abu Dhabi in March 2017. It brought together over 3,000 leaders from government, business, and civil society from over 40 countries to advance manufacturing and industrial development globally, and to identify key trends and opportunities across 6 themes.